US poker network, All American Poker, has confirmed a deal is in place to sell off the final 53% of their investment.
Fresh US Tactics:
Gibraltar’s 888 Holdings issued a statement on Tuesday confirming that an all-cash deal had been agreed, for $28M, which is being handled through their 888 US branch business sector. All loose ends should be tied up before 2019 first quarter ends. 888 Holdings has been looking for openings to develop fresh US tactics and believe this agreement will assist their plans.
Penetration in New Jersey:
In March 2013, 888 Holdings partnered with Avenue OLG Entertainment to unveil their new brand the All American Poker Network. This operation had a clear agenda. 888Casino plus 888Poker products had to penetrate New Jersey platforms. Eight months later 888Sport sportsbetting went live there.
Gaining Control:
888 Holding’s, Itai Frieberger, fully expects this outright ownership agreement will provide his company with increased controls across their US Empire which is what they’ve been looking for. With more independence 888 Holdings has more opportunities to enter into new types of joint ventures and continue to show its capabilities, with hi-tech advances, within new controlled markets. Frieberger also feels that being in the right place is important for future regulations.
NFL Exposure
888 Holdings also has a sponsorship arrangement in play with National Football League’s New York Jets. The company regards NFL links, which began last month, as a fundamental part of their game plan and that a season, linked with this franchise, will go a long way to market the company in and around the area. The plan is for prominent displays of company brands inside the 82,500 all seat MetLife Stadium during home games. This will include images on the stadium huge screens.
An Ideal Opportunity
888 Shareholders,’ according to Frieburger, should also benefit with this venture. He said that, after the success of their 2013 venture this is the next logical step up.
